Case details

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Merger control
Case reference
CCENT/2005/48 - AXA AURORA/SEGURO DIRECTO GERE
Acquiring
AXA Aurora, S.A
Description
a holding company incorporated under Spanish law, whose business activity consists of the acquisition, holding, management, administration and sale, on its own account, of all types of securities in any commercial undertaking, including insurance companies. "Axa Aurora" is part of the French AXA Group, which maintains a presence in Portugal through AXA Portugal, Companhia de Seguros, S.A and AXA Portugal, Companhia de Seguros de Vida, S.A, which have insurance and reinsurance activities in the "life" and "non-life" classes, respectively;
Acquired
Seguro Directo Gere - Companhia de Seguros, S.A.
Description
an undertaking that operates, on a direct selling basis (telephone and internet), in the "non-life" class of the insurance sector, particularly car and fire insurance and insurance against other damage.
Sector
  • Banking, Financial and Insurance activities
Activity (NACE)
  • K65 - Insurance, reinsurance and pension funding, except compulsory social security
Applicable legislation
Art. 9(1)(b) (Law 18)
Notification thresholds
Turnover
Type of merger
Horizontal
Cooperation with sector regulators
  • ASF - Insurance and Pension Fund Supervisory Authority
Status
Closed
Type of Investigation
Phase 1
AdC’s decision
Case description
This merger, for which notification was received on 8 August 2005, consists of the acquisition from Império Bonança, SGPS, S.A, a member of Caixa Geral de Depósitos Group, of the whole share capital of the undertaking SEGURO DIRECTO GERE - Companhia de Seguros, S.A. (hereinafter referred to as "SDG") by AXA Aurora, S.A (hereinafter referred to as "AXA Aurora").
Timeline
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